Jasmine Shah CPA

You’ve heard the news that tax deadlines may be pushed back. However, we have to wait for IRS to make the official announcements & provide details. The filing deadline is still assumed to be April 15. The Treasury Department’s press conference announcement was that the payment deadline will be moved to July 15 (not the filing deadline). So unless IRS announces a change in filing deadline, all returns and/or extensions must be filed by April 15. You would just get an extra 90 days to make any payments due. Stay tuned for updates as they are announced.

EDUCATOR EXPENSES An eligible educator can be a K-12th grade teacher, instructor, counselor, principal or aide in a school for at least 900 hours during a school year. If you were an eligible educator in 2018, you can deduct up to $250 of qualified expenses you paid in 2018. You would take the deductions as an adjustment to your gross income on the new Schedule 1 that goes with Form 1040 rather than a miscellaneous itemized deduction (which are no longer allowed).

CHARITABLE CONTRIBUTIONS Charitable contributions, in the form of cash or property, may be claimed as deductions only if you itemize your taxes.

UNREIMBURSED EMPLOYEE EXPENSES Unreimbursed employee expenses can no longer be claimed as deductions unless you fall into one of these categories: -Armed Forces reservists... -Qualified performing artists -Fee-based state or local government official -Employees with impairment-related work expenses If you are a qualified employee in one of these categories, you would fill out Form 2106 to take the deduction as an adjustment to gross income.

If you are not required to file a return but qualify for a refundable tax credit (such as the American Opportunity credit, earned income credit, etc) or you had taxes withheld from your paycheck, you should file a return to get a tax refund.